US Dollar set for monthly gains on Treasury yields

The dollar is set for monthly gains on the back of higher Treasury yields, while the Japanese yen fell to a three-month low on Monday.

The dollar index rose 3.6% to 104.46 in October, its biggest monthly gain since April 2022.

In Asian trading, the yen fell to around 153.88 per dollar and 166.06 per euro, its weakest performance since late July.

The yen was last down 0.7% against the dollar, bringing its losses since the beginning of October to 6.4%, the biggest decline for a major currency in the world.

The euro was steady at $1.0790 on Monday, but has fallen more than 3% during the month.

The pound sterling was at $1.2952, down 3.1% this month.

The New Zealand dollar has fallen 6 percent this month to $0.5958, while its Australian counterpart has fallen 4.6 percent this month to $0.6579. The Chinese yuan fell to its lowest since late August at 7.1355 per dollar.